I-T dept conducts search operations at IIFL over alleged tax evasion

The Income Tax (I-T) Department is conducting search operations at the office of IIFL Group. According to CNBC-TV18 sources, these searches are linked to allegations of tax evasion. The raids reportedly began early this morning and are ongoing across multiple floors of the 360 ONE WAM (formerly IIFL Wealth) building in Kamala Mills.

Searches are also being conducted at various locations related to the IIFL Group.

The IIFL Group, known for its wealth and asset management services, has not yet issued an official statement. However, IIFL Capital has re-scheduled board meet to consider third quarter results “due to certain exigencies”.

This is a developing story. Stay tuned for updates.